BMO Capital Markets Issues Positive Forecast for DoorDash (NASDAQ:DASH) Stock Price

DoorDash (NASDAQ:DASH) had its price objective boosted by BMO Capital Markets from $140.00 to $180.00 in a research note issued to investors on Thursday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other research firms have also recently weighed in on DASH. JMP Securities raised their price target on DoorDash from $145.00 to $160.00 and gave the company a “market outperform” rating in a report on Monday, September 30th. UBS Group raised their price target on DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Wedbush reissued a “neutral” rating and issued a $115.00 target price on shares of DoorDash in a research note on Friday, August 2nd. Bank of America lifted their target price on DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Raymond James assumed coverage on DoorDash in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average target price of $163.12.

DoorDash Price Performance

DoorDash stock opened at $155.66 on Thursday. The company has a market capitalization of $64.06 billion, a PE ratio of -345.91, a price-to-earnings-growth ratio of 359.82 and a beta of 1.67. DoorDash has a one year low of $83.58 and a one year high of $165.07. The business has a 50 day simple moving average of $140.40 and a 200 day simple moving average of $124.15.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the firm posted ($0.19) EPS. The business’s revenue was up 25.0% on a year-over-year basis. Equities analysts anticipate that DoorDash will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total transaction of $6,685,709.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the sale, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total value of $6,685,709.38. The disclosure for this sale can be found here. Insiders have sold a total of 378,705 shares of company stock valued at $53,125,040 over the last 90 days. 7.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DoorDash

A number of large investors have recently added to or reduced their stakes in DASH. Wealth Enhancement Advisory Services LLC grew its position in DoorDash by 26.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,802 shares of the company’s stock worth $1,488,000 after buying an additional 2,237 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in DoorDash by 38.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 271,024 shares of the company’s stock worth $37,325,000 after buying an additional 75,272 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in DoorDash by 7.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 689,785 shares of the company’s stock worth $94,997,000 after buying an additional 47,725 shares in the last quarter. Norden Group LLC acquired a new stake in DoorDash during the first quarter worth approximately $1,135,000. Finally, First Trust Direct Indexing L.P. boosted its holdings in shares of DoorDash by 10.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 4,780 shares of the company’s stock valued at $658,000 after purchasing an additional 437 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Company Profile

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.